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ECB provides European banks with € 70 billion in aid

Fifteen months after the start of the health crisis, the European Central Bank (ECB) decided on Friday to extend the easing measures by nine months, representing a margin of maneuver of about 70 billion of European banks’ own funds.

The decision, justified by “exceptional macroeconomic circumstances due to the coronavirus pandemic,” aims to avoid a credit crunch that could halt economic recovery in the euro area.

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